IMPORTANT INFORMATION, RISK DISCLAIMER AND PRIVACY POLICY

By accessing the webPlatform https://www.picol.com and any webpages thereof, and the Picol mobile application (available for free download at App stores for iOS and Android mobile device operating systems) (collectively, the “Platform”), you acknowledge that you have read the following information and accept the terms and conditions set out below, and agree to be bound by this document. The terms “you” or “your” in this document refer to both you personally and any other person on whose behalf you are accessing the Platform as the context requires. We may change this document along with other documents or agreements between you and the Platform from time to time by posting such changes on the Platform without notice to you.  By visiting or using the Platform, you are deemed to have agreed to the terms of this document along with other documents  and agreements as then posted on the Platform.

IMPORTANT INFORMATION

Region

The Platform is operated globally under the trade name “Picol” (“Picol,” “we,” or “us”).

The contents of the Platform have not been reviewed by any regulatory authority.  If you are in any doubt as to the contents of the Platform, you should obtain independent professional advice.

No information on the Platform is directed at or intended for distribution to, or use by, residents of any state, territory or possession of the United States, or any other “US person” within the meaning of Rule 902(k) of Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). 

The Platform is not directed at, nor intended to be distributed to, or accessed or used by, any person in any jurisdiction, including but not limited to Democratic Republic of Korea, Iran, Myanmar, Bulgaria, Burkina Faso, Cameroon, Democratic Republic of the Congo, Crimea and so-called Donetsk People's Republic and Luhansk People's Republic regions of Ukraine, Croatia, Cuba, Haiti, Jamaica, Kenya, Mali, Mozambique, Namibia, Nigeria, Philippines, Senegal, South Africa, South Sudan, Syria, Tanzania, Türkiye, Vietnam, and Yemen.  Persons in respect of whom such prohibitions apply must not access the Platform.  It may be unlawful to access or download the information on the Platform in certain jurisdictions, and to the greatest extent permitted by law, we disclaim all responsibility if you access or download any information from the Platform in breach of any law or regulation of the jurisdiction in which you reside or are then present.  By proceeding, you are representing and warranting that the applicable laws and regulations of your jurisdiction allow you to access and use the Platform.         

Risk Disclosure

As a customer or potential customer of the Platform and before you pay Picol any money or digital asset you should be aware of the following:

1. Picol may not hold a license to offer you services through the Platform in your jurisdiction. Please note that this may mean you will not be able to recover all the money or digital assets you paid to us if our business fails.

2. You should not transact in a digital asset if you are not familiar with that digital asset. Transacting in digital assets may not be suitable for you. Once you transact on the Platform, your behavior shall be deemed willingly by yourself, and you shall be deemed to be fully familiar with the digital assets and fiat currency (if involved in the transaction).  

3. You should be aware that the value of digital assets may fluctuate greatly. You should buy digital assets only if you are willing and prepared to accept the risk of losing all of the money you put into such assets.

4. Past performance is not indicative of likely future performance and the value of any digital asset available on the Platform may go down as well as up.  Picol does not guarantee the performance of any trade or investment, the return of any customer’s principal or the achievement of any rate of return.

5. Investment in any of the digital assets available on the Platform carries substantial risk, including the possible loss of principal.  And performance and returns of any digital asset may vary significantly over time.

6. Trading and investment in digital assets available on the Platform are not suitable for all persons.  You should only trade or invest in a digital asset after you have thoroughly reviewed the relevant information of the digital asset.  You may wish to consult an independent financial adviser for personal and specific trading and investment advice before entering into any trade.

7. We may, in our sole discretion, open and/or maintain external wallets/accounts with third party digital asset wallet solution providers and/or external digital assets counterparty exchanges (each, an “External Provider”) to custody and safekeep all or part of your digital assets, and/or to facilitate your trading and investment in digital assets through Picol. While we will undertake measures to carefully select and engage an External Provider, Picol does not guarantee the security or functionality of an External Provider’s software or technology and is not responsible for any loss of digital asset due to the failure of the External Provider’s software or technology. As a result, you may risk losing digital assets that have been placed with an External Provider, and Picol will not be liable you for such loss. Furthermore, no compensation shall be expected from Picol under such circumstance.  

8. We use various blockchains and/or blockchain technology to process your digital asset transactions, for example, the Ethereum blockchain.  All blockchains and/or blockchain technology may experience unintended events or consequences, including but not limited to backlogs, higher than normal transaction fees, changes to the network, failure, or forks in the protocol. Picol does not own or control any blockchain or blockchain technology, is not responsible for the operation of the blockchain network, and makes no guarantee regarding the blockchain network’s security, functionality, or availability.  You may suffer loss as a result of any such events or consequences, and Picol will not compensate you for such loss. You acknowledge and accept that we have sole discretion to determine our response to any operating change to any digital asset protocol and that we have no responsibility to assist you with unsupported currencies or protocols.

DISCLAIMER

Picol does not make any representations or warranties other than those explicitly mentioned in the Terms of Use.  The Platform has not been developed to meet your individual needs.

The Platform is available on computers and handheld mobile devices running the Picol App.  Picol will use best efforts to make the Platform available at all times.  However, you understand and acknowledge that the Platform is provided over the internet and mobile networks and thus the quality and availability of the Platform may be affected by factors outside Picol’s reasonable control.

Picol does not accept any responsibility whatsoever for unavailability of the Platform, any difficulty or inability to download or access contents on the Platform, or any other system failure that may result in the Platform being not fully available or functioning.

Picol is not responsible for providing any technical support or maintenance to you regarding the Platform.  Picol may, at its own discretion, update, modify, or adapt the Platform and its functionalities from time to time to enhance customer experience.  Picol is not responsible for any downtime resulting from these actions.

To the maximum extent permitted by applicable law, you acknowledge and agree that Picol, its affiliates, directors, officers, employees or agents shall not be liable to you for any direct, indirect, incidental, special, consequential or exemplary damages that you may suffer in connection with your use of the Platform, however caused and under whatever theory of liability, including but not limited to, loss of profit, lost opportunities, loss of data, and other intangible loss.  By accessing the Platform, you acknowledge that you are fully aware of the risks of trading, investing in and using digital assets and take full responsibilities for these risks.

The contents of the Platform have been provided for the purposes of information and arms-length transactions only and do not constitute any solicitation to buy, offer to sell, or advice or recommendation to buy, sell or otherwise acquire or dispose of, any interest in any investment, or any advice or recommendation to pursue any investment strategy.

The Platform allows customers that have registered to open an account to trade digital assets with Picol in a principal capacity.  After accepting a customer order, the Platform may then place an order with Picol’s counterparties’ platforms (e.g., Huobi or Binance) on the basis of  aggregated outstanding positions so that Picol may complete the customer’s order on the Platform.  In both the trade with its customer and the trade with its counterparty, Picol acts in a principal capacity. Customers can utilize various proprietary automated trading systems (“trading bots”) offered by Picol in executing their trades by filling in the trading parameters in respect of the chosen trading bot.  The operation of any trading bot is dictated by the parameters set by the customer.  No trading bot has the ability to exercise any discretion with regard to any trade position without the input of the customer.  A customer may stop the operation of any trading bot at any time, and withdraw all digital assets involved, including principal and realized profit or loss, at any time.

Picol is not licensed in any jurisdiction as a broker, financial advisor, investment advisor, portfolio manager or tax advisor.  Nothing contained in the Platform constitutes investment, legal, tax or other advice.  You should not rely on the contents of the Platform as advice or to make any decision.  Before making any trading or investment decision, you should obtain professional advice specific to your circumstances, and obtain and read the terms and conditions and other information relevant to any trade or investment, including risk disclosures pertaining to such trade or investment.  Picol does not make any determination as to the suitability of any trade or investment conducted on the Platform and makes no representation or warranty that any such trade or investment is suitable for you.  Any statement of risks of any trade or investment referenced on the Platform should not be regarded as a full disclosure of all risks.

By accessing the Platform, you acknowledge and agree that Picol is not responsible for your use of any information that you obtain from the Platform, that your trading or investment decisions are made on your own for which you bear sole responsibility, and that you use the Platform and the trading bots at your sole risk. Also, Picol shall not be liable for any liability caused by your usage of any information that you obtain from the Platform.

While Picol believes in good faith that the information provided on the Platform is accurate and up-to-date, it gives no representations or warranties as to the accuracy or completeness of such information, and shall not be liable for any direct, indirect, consequential or special losses or damages of any kind arising from or in connection with the use of the Platform (including the use of any links on the Platform to external webPlatforms or resources) or the use of such information.  The information on the Platform is provided strictly for the purposes of information and arms-length transactions only, and does not constitute trading or investment advice.  No reliance may be placed for any purpose other than arms-length transactions on the information provided on the Platform or the accuracy or completeness thereof, and neither Picol nor any of its affiliates, directors, officers or employees accepts any responsibility or liability in respect of any information provided on the Platform, which is subject to change without notice.  No content on the Platform is tailored to the specific needs of any person.  Contents on the Platform may not be used as a basis for any financial instrument, commodity or other product without the express prior written consent of Picol.

Some contents on the Platform, including contents made available to the Platform through hyperlinks to external webPlatforms, platforms or sources, are provided to Picol by unrelated third-party providers, including providers of pricing information for the digital assets.  While Picol selects such third-party content providers based on rigorous criteria and with reasonable care, Picol does not review such third-party contents for accuracy, completeness or reliability, and does not warrant or guarantee their accuracy, completeness, reliability or any other aspect of such contents.  The performance of the Platform is directly linked to the performance of certain unrelated third-party services.  Picol disclaims all responsibility for non-performance of such third-party services, and shall not be held liable for any performance issues of the Platform caused by failures of such third-party services.

Digital assets and the trading and investment thereof are based on a new and insufficiently tested technology.  In addition to the risks described herein, there are other risks associated with your use of the Platform, and the purchase, holding, sale and use of digital assets, many of which Picol is not aware of and cannot anticipate.  Such risks may materialize in unanticipated ways as variations or combinations of the risks discussed herein or otherwise unknown.

To the maximum extent permitted by applicable law, Picol hereby disclaims all implied warranties regarding the availability of the Platform.  Except as expressly provided herein, the Platform is made available to you “as is” and “as available” without warranty of any kind.  Picol, its affiliates, directors, officers, employees and agents expressly disclaim all other representations, endorsements or warranties of conditions, express or implied, including, without limitation, merchantability, fitness for a particular purpose, title or non-infringement, completeness, security, reliability, suitability, accuracy, currency, availability, error-free or uninterrupted operation, or that defects will be corrected, or any warranty arising from a course of dealing, performance, or trade usage.  Your sole and exclusive remedy, and our sole obligation to you or any third party for any claim arising out of your use of the Platform is that you are free to discontinue your use of the Platform at any time.

To the maximum extent permitted by applicable law, Picol does not guarantee or warrant that files or data available for downloading from the Platform will be free of viruses or other harmful codes or components.  You are solely responsible for your use of the Platform and your device and data security.  To the maximum extent permitted by applicable law, Picol, its affiliates, directors, officers, employees and agents will not be liable for any loss or damage caused by denial-of-service attack, distributed denial-of-service attack, overloading, flooding, mailbombing or crashing, viruses, trojan horses, worms, logic bombs, or other technologically harmful material that may infect your computer equipment, mobile device, computer programs, data, or other proprietary material due to your use of the Platform, or your downloading of any material posted on the Platform or any third-party platform linked to the Platform.

PRIVACY POLICY

This Privacy Policy applies to your Personal Information when you visit this Platform or use the Services. This Privacy Policy explains how we may collect, retain, process, share and transfer your Personal Information when you visit this Platform or use the Services.

This Privacy Policy is designed to help you obtain information about our privacy practices and to help you understand your privacy choices when you use this Platform and the services.

Please contact us via service@picol.com if you have questions about our privacy practices that are not addressed in this Privacy Policy.

This Privacy Policy is incorporated by reference into any terms of service made available on the Platform or in the Services. By using the Services, you agree to the terms of this Privacy Policy. If you do not agree with or you are not comfortable with any aspect of this Privacy Policy, you should immediately stop using the Services.

Upon your acceptance of this Privacy Policy, your Personal Information collected by us prior to the time of acceptance shall also be subject to this Privacy Policy.

“Personal Information” means personal information that can be associated with an identified or identifiable person.  “Personal Information” can include name, postal address, telephone number, email address, financial account information, account number, date of birth, and government-issued credentials (e.g., driver’s license number, national ID, passport, and Taxpayer ID).  Personal Information does not include information that does not identify a specific User.

“Services” means any website owned or operated by us, any API Tools (as defined below), or mobile applications (the "App(s)") and all services, features, functionality, and content provided through the Platform, API Tools, or App, including: (i) any digital asset platforms and tools that allow trading of supported digital assets; and (ii) any hosted digital wallets for storage of digital assets.

What Personal Information Do We Collect?

We may collect information about you when you visit our Platforms or use the Services, including the following:

Registration information – When you create an Account or use the Services, we may require you to provide us with your name, postal address, telephone number, and email address to create an Account. 

Identity Verification information - We may require you to provide us with additional Personal Information as you use the Services which we may use in collaboration with service providers acting on our behalf to verify your identity, source of funds, and address, and/or to manage risk as required under applicable law. This information may include your date and place of birth, taxpayer or government identification number, a copy of your government-issued identification, or other personal information.

Transaction and experience information – When you use the Services, we may collect information about the transaction, as well as other information associated with the transaction such as amount placed for a purchase/sale order. This information may include your digital wallet address, Internet protocol (IP) address, cookie identifiers, mobile carrier, mobile advertising identifiers, MAC address, details about your browser or device, geo-location information, Internet service provider, pages that you visit before and after using the Services, and other information about how you use the Services. These information would be collected to facilitate the Services we provide.

Information about you from third-party sources – We may obtain information from third-party sources such as public databases, ID verification partners, and credit bureaus, where permitted by law. Such information may include your name, account number and/or customer ID with a third party, address, job role, public employment profile, credit history, status on any sanctions lists maintained by public authorities, and other relevant data.

Other information we collect related to your use of the Services – We may collect additional information, including email address, telephone number, mail address from or about you when you communicate with us, contact our customer support teams or respond to a survey. Such information will be collected to maintain contact with you and to provide the Services.

How Do We Process Personal Information?

We may process your information for the following purposes:

To operate the Platform and provide the Services, including to: generally manage individual information and accounts; authenticate your access to your Account; communicate with you about your Account and your transactions; provide a personalized experience and implement the preferences you request; and keep your Account information up to date and process transactions.

To manage our business needs, such as monitoring, analyzing, and improving the Services and the Platforms’ performance and functionality; ensuring quality control and staff training; develop new products and Services; and enforcing our agreements with third-parties.

To manage risk and verify your identity. We may use Personal Information to enhance security, monitor and verify service access, combat spam or other malware or security risks; prevent potentially prohibited or illegal activities; and enforce our Terms of Service.

To market to you about the Services and the products and the Services of unaffiliated businesses. We may also Process your Personal Information to uniquely tailor the marketing content, advertisements, and offers, and certain Services or Platform experiences to better match your interests on the Platform.

To provide personalized Services.  We may use your Personal Information and other information collected in accordance with this Privacy Policy to provide a targeted display, feature, or deliver targeted offers based on your communication preferences.

To comply with our obligations and to enforce our terms of services, including to comply with all applicable laws and regulations.

To provide customer support, for example to respond to your requests, resolve disputes, and troubleshoot problems.

Other uses. We may use personal information for any other purpose disclosed to you at the time you provide such information or otherwise with your consent.

How Do We Use Cookies and Tracking Technologies? 

When you visit the Platform or use the Services, we may use cookies, pixel tags, local storage, and other tracking technologies (collectively, “Cookies”) to automatically collect information through the Services, for the following purposes: (1) to recognize you as a User and to customize your online experiences, the Services you use, and other online content and advertising; (2) to measure the effectiveness of promotions and perform analytics; (3) to help us understand how our Users use and interact with the Services so that we can improve them and offer you enhanced functionality when using the Services; and (4) to mitigate risk, prevent potential fraudulent activity, improve security and promote trust and safety across this Platform and the Services. 

If you would like to opt-out of the Technologies we employ on the Services, you may do so by blocking, disabling, or deleting them as your browser or device permits. However, certain aspects and features of the Services and this Platform are only available through the use of Cookies, so if you choose to disable or decline Cookies, the Services may not work properly.

Do Not Track (“DNT”) is a privacy preference that users can set in certain web browsers. You can use DNT as a way for Users to inform webPlatforms and services that they do not want certain information about their webpage visits collected over time and across webPlatforms or online services. Please note that at this time no formal "Do Not Track" standard has been adopted and we do not respond to or honor DNT signals.

Do We Share Personal Information? 

We may share your Personal Information or other information about you with others in accordance with the Privacy Policy. We may share your Personal Information or other information for the following reasons:

With other members of our corporate family: We may share your Personal Information with other members of our family of entities for various purposes, including but not limited to, to provide the Services you have requested or authorized; to manage risk; to help detect and prevent potentially illegal and fraudulent acts and other violations of our policies and agreements; and to help us manage the availability and connectivity of the Services, and communications.

With third parties that provide services to us: We may share Personal Information with third-party service providers that perform the Services and functions at our direction and on our behalf. These third-party service providers may, for example, provide you with the Services, verify your identity, assist in processing transactions, send you advertisements for the Services, or provide customer support. 

With other third parties to protect us or others We may share information about you with other parties for our business purposes, including: to protect the vital interests of a person; to protect our property, the Services and legal rights; to help assess and manage risk and prevent fraud against us, our Users and fraud involving the Platform or use of the Services, including fraud that occurs at or involves our business partners, strategic ventures, or other individuals; to companies that we plan to merge with or be acquired by; and to support our audit, compliance, and corporate governance functions.

With other parties as permitted or required by law and regulations: We may share information about you with other parties if we need to do so to comply with a law, legal process or regulations; or as required by law enforcement, regulators, government officials, or other third parties in relation to a subpoena, court order, or other legal process or requirement under applicable law or regulation; or when we believe, in our sole discretion, that the disclosure of Personal Information is necessary or appropriate to prevent physical harm or financial loss; or to report suspected illegal activity or to investigate violations of a user agreement;or to satisfy regulatory requirements as applicable to provide our Services.

With your consent: We also will share your Personal Information and other information with your consent or direction, including if you authorize an account connection with a third-party account or platform. 

Why Do We Retain Personal Information?

We retain Personal Information to fulfill our legal or regulatory obligations and for our business purposes.  We may retain Personal Information for longer periods than required by law if it is in our legitimate business interests and not prohibited by law.  If your Account is closed, we may take steps to mask Personal Information and other information, but we reserve our ability to retain and access the data for so long as required to comply with applicable laws.  We will continue to use and disclose such Personal Information in accordance with this Privacy Policy.

How Do We Protect Your Personal Information?

We maintain appropriate technical, physical, and administrative security measures designed to provide reasonable protection for your Personal Information against loss, misuse, unauthorized access, disclosure, and alteration. The security measures include firewalls, data encryption, physical access controls to our data centers, and information access authorization controls. However, we cannot guarantee that loss, misuse, unauthorized acquisition, or alteration of your data will not occur. While we are dedicated to securing our systems and the Services, you are responsible for securing and maintaining the privacy of your password(s) and Account registration information, for example, to choose a password of sufficient length and complexity and not reveal account credentials to any third-parties, and verifying that the Personal Information we maintain about you is accurate and current.  We are not responsible for protecting any Personal Information that you transmit to us or receive from us by Internet or wireless connection, including email, phone, or SMS, since we have no way of protecting that information once it leaves and until it reaches us.

Can Children Use the Services?

The Platform and the Services are not directed to people under the age of 18 (“Minors”).  We do not knowingly collect information, including Personal Information, from Minors or other individuals who are not legally able to use the Platform and the Services. If we obtain actual knowledge that we have collected Personal Information from a Minor, we will promptly delete it, unless we are legally obligated to retain such data, and take steps to disable that Account.

Third-Party Websites and Social Media Platforms

The Services may contain links to websites and services that are owned or operated by third-parties (each, a “Third-party Service”). Any information that you provide on or to a Third-party Service or that is collected by a Third-party Service is provided directly to the owner or operator of the Third-party Service and is subject to the owner’s or operator’s privacy policy. We’re not responsible for the content, privacy or security practices and policies of any Third-party Service. To protect your information, we recommend that you carefully review the privacy policies of all Third-party Services that you access.

Our Services may include access to publicly accessible blogs, forums, or social media platforms. Personal information you voluntarily transmit or publish online in a publicly accessible blog, forum, or social media platform may be viewed and used by others without any restrictions. By using such services, you assume the risk that your personal information may be viewed and used by third-parties for any number of purposes.

Others

Changes to This Privacy Policy. We may revise, modify for replace this Privacy Policy from time to time to reflect changes to our business, the Platform or the Services, or applicable laws.  The revised Privacy Policy will be effective as of the published effective date. If the revised version includes a substantial change, we will provide you with a prior notice by posting notice of the change on the “Policy Update” page of our webPlatform.  We also may notify Users of the change using email or other means. 

Transfers of Your Personal Information to Other Countries. Our operations are supported by a network of computers, cloud-based servers, and other infrastructure and information technology, including, but not limited to, third-party service providers.  By using our Platforms and the Services, you agree that all information collected via or by this Platform may be transferred, processed, and stored anywhere in the world, including but not limited to, in the cloud, on our servers, on the servers of our affiliates, or the servers of our service providers, to provide the Services. And you consent to your Personal Information being transferred to other countries, including countries that have different data protection rules than your country. We will protect your information as described in this Privacy Policy if your Personal Information is transferred to other countries. We do not represent that our Platforms and the Services are appropriate or available in any particular jurisdiction. 

AML, CTF AND REGULATORY COMPLIANCE

Picol is committed to complying with all applicable laws, regulations and regulatory standards and guidance related to AML/CTF, including but not limited to, the International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation issued by the Financial Action Task Force.

You shall agree to Picol’s collection and use of your personal data to enable Picol to comply with AML/CTF and other regulatory requirements.

HELP

Picol maintains an online helpdesk on the Platform that answers your questions about the Platform.  Picol will only address questions about the functionalities of the Platform, and does not give you any personalized advice or recommend any system settings on your personal computers or mobile devices.  Picol may upload general tutorials and instruction videos on the Platform to introduce the functionalities of the Platform.  All tutorials, videos and other instruction materials uploaded by Picol are for general usage only, and do not contain any personalized solutions.  Your use of all such services and materials is at your own risk.